Mitsubishi Motors Credit of America Finances 1,000,000th Vehicle

CYPRESS, Calif., May 14 -- Mitsubishi Motors Credit of America, Inc. (MMCA) announced today that the company has financed its 1,000,000th vehicle in North America, 11 years after MMCA's first vehicle was financed in April 1991. The company's growth curve took a dramatic turn in 1998 as sales of Mitsubishi-brand vehicles began to accelerate.

"Mitsubishi Motors is coming off its third consecutive year of record sales, record profits and record brand awareness in North America," said Mitsubishi Motor Sales of America, Inc. (MMSA) President and COO Pierre Gagnon. "Achieving this significant milestone is a reflection of Mitsubishi Motors rapid growth curve in sales and financing over the last three years."

Mitsubishi Motors sold 322,393 vehicles in the United States in 2001, representing sales growth of 69 percent over the last three years and far exceeding the industry growth rate of 11 percent. In addition, in 2001, MMCA serviced more than twice as many customers as it did in 1998, and reached $9 billion in assets serviced.

Mitsubishi Motors is expecting to continue growing with the launch of seven new models over the next four years and has targeted sales of 400,000 vehicles by 2005.

"Our success is due in large part to a variety of innovative financial products that facilitate the new vehicle purchase and meet the needs of almost all customers," said Chuck Tredway, MMCA executive vice president and general manager. "We've grown a lot over the last three years and expect that growth to continue."

Celine Legault-Ehlers of Chicago purchased a 2002 Mitsubishi Montero from Max Madsen Mitsubishi in Downer's Grove, Ill., financed the new vehicle through MMCA and became the company's 1,000,000th customer. In recognition of this milestone, MMCA today presented Legault-Ehlers with a free mountain bike and home theater system, and also agreed to pay six monthly payments on the new SUV.

About MMCA

Mitsubishi Motors Credit of America is a wholly owned financing subsidiary of Mitsubishi Motor Sales of America, Inc. (MMSA). MMSA was established in 1981 by Mitsubishi Motors Corporation, Tokyo, and markets a full line of vehicles, including coupes, convertibles, sedans and sport utility vehicles. Its Web site can be accessed at www.mitsubishicars.com .